The Rent Is Still Too Damn High...and that could be a good thing!

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?  

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One in four home buyers say they want to buy a home because their rent is too high, according to a new survey by the brokerage Redfin of 750 home purchasers. The number of home buyers citing high rents as a main motivation to buy is rising – up from one in eight last August.

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Still, affordability remains the chief concern on home buyers’ minds. Twenty percent are concerned about the limited number of homes for sale – also on the rise. Sixteen percent are concerned about too much competition from other buyers – a five percentage jump over last quarter, according to Redfin’s survey.

Home buyers are also braced for home prices to rise in the coming months. Fifty-three percent say they anticipate prices will rise soon compared to 48 percent of previous survey respondents from last quarter. But mortgage rates remain important to them. Sixty-seven percent of buyers said mortgage rates were important or very important motivators in their purchase decisions.

Source: “One in Four Home Buyers Cites High Rent as Reason for Buying,” Redfin (Feb. 25, 2016)

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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Chris, and since rates just went down AGAIN, no reason not to buy versus renting and helping that landlord pay for the home!  

Mar 01, 2016 09:56 AM #1
Chris B Johnson REALTOR®
Allison James Elite - Moorpark, CA
5 Star Rated REALTOR® Quality, Not Quantity

I could not agree more Joan Cox !!

Mar 01, 2016 10:54 AM #2
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Chris B Johnson REALTOR®

5 Star Rated REALTOR® Quality, Not Quantity
Is it Too Late to Short Sell My Home??

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